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Bharat Road Network Ltd logo

Bharat Road Network Ltd

NSE: BRNL BSE: 540700

18.49

(1.20%)

Thu, 12 Mar 2026, 09:57 am

Bharat Road Network Analysis

dividend

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Pros

  • Dividends paid are well covered by earnings (2.1x coverage).
  • Bharat Road Network's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.76%).
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Cons

  • Bharat Road Network has only been paying a dividend for 3 years, and since then dividends per share have fallen.
  • Bharat Road Network has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Bharat Road Network's dividend is below the markets top 25% of dividend payers in India (3.08%).

health

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Pros

  • Bharat Road Network is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bharat Road Network is profitable, therefore cash runway is not a concern.
  • Bharat Road Network is profitable, therefore cash runway is not a concern.
  • Debt is well covered by operating cash flow (20.2%, greater than 20% of total debt).
  • The level of debt compared to net worth has been reduced over the past 5 years (7832.5% vs 129.8% today).
  • Low level of unsold assets.
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Cons

  • Debt is not covered by short term assets, assets are 0.4x debt.
  • Bharat Road Network's long term commitments exceed its cash and other short term assets.
  • Interest payments on debt are not well covered by earnings (EBIT is 0.8x annual interest expense, ideally 3x coverage).
  • Bharat Road Network's level of debt (129.8%) compared to net worth is high (greater than 40%).

management

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Pros

  • Bajrang's compensation has increased in line with Bharat Road Network recently becoming profitable.
  • The tenure for the Bharat Road Network management team is about average.
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Cons

  • The average tenure for the Bharat Road Network board of directors is less than 3 years, this suggests a new board.
  • Bajrang's remuneration is higher than average for companies of similar size in India.

misc

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Pros

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    Cons

    • Bharat Road Network is not covered by any analysts.
    • Bharat Road Network has significant price volatility in the past 3 months.

    past

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    Pros

    • Bharat Road Network has delivered over 20% year on year earnings growth in the past 5 years.
    • Bharat Road Network used its assets more efficiently than the IN Infrastructure industry average last year based on Return on Assets.
    • Bharat Road Network has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
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    Cons

    • Bharat Road Network has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
    • Bharat Road Network has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
    • Bharat Road Network has become profitable in the last year making it difficult to compare the IN Infrastructure industry average.

    value

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    Pros

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      Cons

      • Bharat Road Network's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).
      • Bharat Road Network's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).
      • Bharat Road Network is overvalued based on assets compared to the IN Infrastructure industry average.
      • Bharat Road Network is overvalued based on earnings compared to the IN Infrastructure industry average.
      • Bharat Road Network is overvalued based on earnings compared to the India market.
      • BRNL underperformed the Infrastructure industry which returned -20.5% over the past year.
      • BRNL underperformed the Market in India which returned -14.5% over the past year.
      • NSEI:BRNL is down -8.7% underperforming the Infrastructure industry which returned 11% over the past month.
      • NSEI:BRNL is down -8.7% underperforming the market in India which returned 8% over the past month.

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